Exceeded

Score

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/10

CITEX

South Korea

|

5-10 years

MSB License|

Suspicious Overrun|

High potential risk

https://www.citex.co.kr/#/home

Website

Yesterday Vol
Rating Index
Influence

Influence

A

Influence Index NO.1

Turkey 3.82

Better than 99.52% exchange(s)

Biz Area

Search Statistics

Advertising

Social Media Index

Influence
A

Licenses

FinCEN

FinCENExceeded

MSB License

Exchange Info

More
Company Name
CITEX
Phone of the company
--
Customer Service Email Address
advice_en@citex.co.kr
support@citex.co.kr

WikiBit Risk Alerts

2
Previous Detection 2024-04-22

The number of this Exchange's nagitive field survey reviews has reached 1, please be aware of the risk and the potential scam!

MSB License goes beyond their business with the licenses United States FinCEN (license number: 31000168309833), please be aware of the risk!

Website

Genealogy

Social Media

Trade Type

Keywords

Time Machine

White Paper

Related Software

Github

Related Docs

All Corps

New Arrival

Vol Stat

Influence

Yesterday Vol

7 Days

$ 815.514m

$ 815.514m

52.52%

$ 404.879m

$ 404.879m

26.07%

$ 94.533m

$ 94.533m

6.08%

$ 86.419m

$ 86.419m

5.56%

$ 29.354m

$ 29.354m

1.89%

$ 26.113m

$ 26.113m

1.68%

$ 16.102m

$ 16.102m

1.03%

$ 9.459m

$ 9.459m

0.6%

$ 6.965m

$ 6.965m

0.44%

$ 5.612m

$ 5.612m

0.36%

$ 5.135m

$ 5.135m

0.33%

$ 5.076m

$ 5.076m

0.32%

$ 4.907m

$ 4.907m

0.31%

$ 3.899m

$ 3.899m

0.25%

$ 3.266m

$ 3.266m

0.21%

User Reviews

More

20 ratings

Participate in evaluation
mayth
The exchange's commitment to social media engagement creates a vibrant online community. It's more than just an exchange; it's a digital gathering place for crypto enthusiasts.
2023-12-26 07:56
4
kachi7835
The exchange's commitment to user experience is apparent in its responsive and user-friendly design. It's a platform that values simplicity without compromising functionality.
2023-12-24 22:12
9
DJ952
As an experienced trader, the inclusion of social trading features adds a social dimension to the platform. It's a unique and enjoyable way to interact with the trading community.
2023-12-23 21:40
4
LAMI9158
the inclusion of technical analysis tools. It's like having a full arsenal for dissecting market trends and making informed trading decisions.
2023-12-23 02:02
3
ayobami3115
As a newbie, I'm glad I chose this Binance. The platform feels like a friendly mentor, guiding me through the complexities of the crypto market at my own pace.
2023-12-23 01:33
6
snazii
CITEX may provide leveraged trading options, enabling users to open positions larger than their initial investment. However, leveraging involves increased risk and should be approached cautiously.
2023-11-28 12:36
7
FX1299232315
I love the security on C网, it's top notch. Not great, however, removal takes time. Not cool.
2023-11-28 11:49
7
adebanjo382
The platform regularly updates with new features and improvements.
2023-12-27 13:08
5
ZApp
As an experienced trader, the inclusion of advanced trading features like trailing stops is a game-changer. It allows for more sophisticated risk management strategies.
2023-12-26 06:49
8
Chisam
I'm all about the altcoins, and this exchange has a fantastic selection. It's like a candy store for crypto enthusiasts – always discovering something new and exciting.
2023-12-23 01:53
9
latex
Coinbase stands out for its transparency and commitment to security. The user interface is intuitive, and the platform's educational resources make it an excellent choice for both beginners and experienced traders.
2023-12-22 07:08
7
Chisam
The exchange offers a seamless fiat-to-crypto on-ramp. It's refreshing to have a straightforward way to convert traditional currency into digital assets.
2023-12-22 04:11
6
johnson7035
A well-organized order book simplifies trading.
2023-12-29 02:10
7
jadan
This exchange understands the needs of active traders. Real-time data, low latency – everything you'd want for fast and precise trading.
2023-12-27 01:57
2
vienn
I can't believe how user-friendly this exchange is. It's perfect for someone like me who's just dipping their toes into the crypto world.
2023-12-27 01:57
5
LEXY6243
The inclusion of a live chatbot for basic queries is a clever touch. It adds an element of interactivity to the platform and speeds up query resolution.
2023-12-23 22:19
4
小Y
CITEX does not return tokens for various reasons, and no response from manual customer service
2021-06-20 19:26
0
ediwen
Contact customer service just to say to read the announcement. What we can do is to sell them at a low price!
2021-06-20 07:49
0
Verified Trader
I don't have personal experience using CITEX, but I've heard mixed reviews about their platform. Some users have praised their low fees and variety of trading pairs, while others have reported issues with withdrawals and slow transaction processing times.
2023-04-12 15:15
0
Verified Trader
I've used CITEX for a while now, and overall, I'm satisfied with their platform. They offer a good selection of cryptocurrencies to trade, and their fees are reasonable. However, their customer support can be slow to respond at times.
2023-04-12 15:15
0
⭐Features Details
⭐Exchange Name CITEX
⭐Founded in 2018
⭐Registered in South Korea
⭐Cryoptocurrencies 100+
⭐Trading Fees Taker 0.2%, Maker 0.2%
⭐24-hour trading volume $81 million
⭐Customer Support Email, Ticket Support, Social Media

Overview of CITEX

CITEX was established in 2018 and is officially located in the British Virgin Islands. However, the exchange operates mainly in South Korea. This choice is because South Korea has a bustling cryptocurrency market, and CITEX wanted to be near the people it serves the most. CITEX lets users use more than 100 types of cryptocurrencies. Every day, about $81 million worth of trading happens there. When you trade, they charge a 0.2% fee, and if you help set up trades, they charge only 0.2%.

basic-info

Pros and Cons

CITEX excels in these areas:

  • They've got a diverse collection of 100+ cryptos to play around with.

  • Light trading fees – just 0.2% for both takers and makers.

  • Whether you're a newbie or a pro, their user-friendly setup has you covered.

  • Copy trading can enhance possibility of profitability.

  • High trading volume ensures that you can easily buy and sell cryptocurrencies.

CITEX excels in these areas:

  • Relatively new exchange: Not as established as some other exchanges.

  • Not as well-known: Not as popular as some other exchanges.

  • Customer support can be slow: Customer support can be slow to respond.

  • Some security concerns: There have been some security concerns raised about CITEX.

  • KYC and AML requirements: You must go through KYC and AML verification to use CITEX.

Pros Cons
Over 100 cryptocurrencies Relatively new exchange
User-friendly interface Not as well-known as other exchanges
Good liquidity Slow customer support
Copy trading available Some security concern
Light trading fees KYC and AML requirements

Regulation

CITEX is supervised by the Financial Crimes Enforcement Network (FinCEN) with license number 31000168309833, but the regulatory status is marked as “ Exceeded”. The Financial Crimes Enforcement Network (FinCEN) is a bureau within the United States Department of the Treasury that is responsible for collecting and analyzing financial intelligence, and using that intelligence to combat money laundering, terrorist financing, and other financial crimes.

regulation

Security & Storage

  • Cold storage: Most of CITEX's cryptocurrency funds are stored in cold storage, which means that they are offline and not connected to the internet. This makes them less vulnerable to cyberattacks.

  • Multi-signature wallets: CITEX's hot wallets, which are the wallets that are connected to the internet and used to process withdrawals, use multi-signature technology. This means that multiple keys are required to authorize a withdrawal, making it more difficult for unauthorized users to withdraw funds.

  • DDoS protection: CITEX's servers are protected from DDoS attacks, which are a type of cyberattack that can flood a server with traffic and make it unavailable.

  • 2FA: CITEX users can enable two-factor authentication (2FA) for their accounts, which adds an extra layer of security by requiring them to enter a code from their phone in addition to their password when logging in.

Trading Markets

CITEX primarily offers a wide range of cryptocurrencies for trading. This includes well-known digital assets such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and many others. Users on the CITEX platform can engage in spot trading, allowing them to buy and sell these cryptocurrencies at current market prices.

Trading Markets

Cryptocurrencies Available

CITEX lists a wide variety of cryptocurrencies, including Bitcoin, Ethereum, Tether, USD Coin, and many others. The exchange currently lists over 100 cryptocurrencies.

market-instruments

You can find the full list of cryptocurrencies available on the CITEX exchange here: https://www.citex.co.kr/en_US/market.

The coin listing speed on CITEX is relatively fast. The exchange has a team of experts who evaluate new cryptocurrencies before they are listed. The evaluation process takes into account factors such as the cryptocurrency's market capitalization, liquidity, and technical features.

Other Services

CITEX, beyond its basic cryptocurrency trading, provides users with additional services. Users can securely store their cryptocurrencies in CITEX's digital wallets. These wallets support various digital assets, ensuring easy management and secure transfers.

For traders seeking more advanced options, CITEX offers futures trading. This feature allows users to speculate on future cryptocurrency prices without owning the actual assets. Additionally, CITEX provides perpetual contracts settled in USDT, a stablecoin pegged to the US dollar, offering a predictable value reference.

CITEX stands out with its brokerage services, enabling users to become brokers, invite friends to trade, and earn rebates. The platform also offers a Copy Trade feature, allowing users to follow experienced traders and potentially achieve higher returns without actively managing their investments.

Fees

Fees for Spot Trading:

  • When you make an order that instantly trades at the current market price (this is called a “Taker” order), they charge a fee of 0.2%.

  • If you place an order at a specific price and wait for it to trade (this is called a “Maker” order), they also charge a fee of 0.2%.

Fees for Futures Trading:

  • When you finish a futures trading deal, they will take a fee of 0.1% from the amount you traded.

  • Additionally, they will charge a fee based on a percentage of your total trading amount at three specific times: 00:00, 8:00, and 16:00 each day when you close a futures position.

How to open an account?

1. Go to the CITEX website and click on the “Sign Up” button.

    open-account
    2. Enter your email address and create a password.

    open-account

    3. Read and agree to the terms and conditions.

    4. Click on the “Create Account” button.

    5. You will receive an email from CITEX with a verification link. Click on the link to verify your email address.

    6. You will then be asked to provide some personal information, such as your name, date of birth, and address.

    7. You will also be asked to provide a government-issued ID to verify your identity.

Once your account has been verified, you can start trading cryptocurrencies.

How to Buy Cryptos

Buying cryptocurrencies on CITEX is easy and involves a few steps:

1. Pick Your Cryptocurrency and Currency:Choose the cryptocurrency you want to buy and the currency you'll be using (like USD or EUR).

2. Confirm the Amount:Decide how much of the chosen cryptocurrency you want to purchase and confirm the amount.

3. Select Transaction and Payment Method:Choose how you want to make the transaction (e.g., spot trading) and your preferred payment method, like a bank transfer or credit card.

4. Make the Payment:Follow the instructions to complete the payment. Once done, wait for the payment to be confirmed.

5. Automatic Transfer:Once the payment is confirmed, your purchased cryptocurrency will be automatically transferred to your CITEX account.

    How to Buy Cryptos?

    Payment Methods

    At CITEX, you can deposit using wire transfers, but credit cards aren't an option. You can also use cryptocurrencies like BTC and ETH for depositing and withdrawing.The minimum deposit and withdrawal for cryptocurrencies like BTC and ETH are set at 0.05 and don't have a maximum limit. No fees for depositing using cryptocurrencies, but a fee of 0.005 is charged when withdrawing.

    Depositing is free. When you take out BTC, they'll charge a withdrawal fee of 0.0005 BTC, which is about 40% less than the average of 0.0008 BTC in the industry. Overall, CITEX's fees are a bit lower than what most other exchanges usually charge.

    Is CITEX a Good Exchange for You?

    CITEX could be a suitable exchange for various trader profiles. Beginners may find it particularly appealing due to its user-friendly interface and ample educational resources, facilitating an easier entry into cryptocurrency trading. Active traders seeking features like margin and derivatives trading may find CITEX well-suited for their needs, allowing them to engage in frequent trading and capitalize on short-term price movements. Additionally, international traders may benefit from CITEX's availability in various countries, providing a global platform for cryptocurrency trading.

    • Beginners: CITEX is a relatively easy-to-use exchange, with a user-friendly interface and a variety of educational resources. This makes it a good option for beginners who are new to cryptocurrency trading.

    • Active traders: CITEX offers a variety of features that are designed for active traders, such as margin trading and derivatives trading. This makes it a good option for traders who want to trade frequently and take advantage of short-term price movements.

    • International traders: CITEX is available in a variety of countries, making it a good option for traders who want to trade cryptocurrencies globally.

    Has CITEX experienced any controversy?

    CITEX has not experienced any major controversies. However, there have been a few minor issues that have been raised.

    In 2019, CITEX was accused of wash trading, which is a practice of artificially inflating trading volume to make an exchange look more liquid than it actually is. However, CITEX denied these allegations and said that they were the result of a technical glitch.

    In 2020, CITEX was also accused of having slow customer support. However, the exchange has since taken steps to improve its customer support, and users have reported that it is now much faster and more responsive.

    Compare CITEX with other exchanges

    Features
    label
    label
    label
    label
    Trading Fees Taker 0.2%, Maker 0.2% Maker: 0.04%, Taker: 0.075% Maker: 0.05% - 0.1%, Taker: 0.1% - 0.5% Up to 0.40% maker fee and up to 0.60% for taker fee
    Cryptocurrencies 100+ 500+ 11 200+
    Regulation Regulated by FinCEN (Exceeded) Regulated by NMLS, MAS/FinCEN (Exceeded) Regulated by FSA ( Japan), NMLS, CSSF, DFI, NYSDFS Regulated by NMLS , FCA, NYSDFS, SEC (Exceeded), FINTRAC (Exceeded)

    User Reviews

    Ethan Brown

    August 23, 2021

    “Hey, just gotta say, CITEX really impressed me! ? Security's tight, I feel my coins are in good hands. Love how they're under proper regulation too – that's a big win for trust! The interface is so user-friendly, made trading a breeze. And oh my, the liquidity's real nice, no more stressing about buying or selling. Plus, they've got a buffet of cryptos to choose from. Customer support? They were like my trading buddies, quick and helpful! Fees are easy on the wallet, and privacy's well-respected. Deposit and withdrawal speeds? Lightning-fast with cryptos, but wire transfers took a little patience. Overall, a thumbs up for a smooth trading ride! ”

    Benjamin Williams

    March 8, 2022

    “Ugh, gotta vent about CITEX – not my best experience. ? Security? Heard some rumors and concerns floating around, kinda shaky on that front. And don't even get me started on regulation, feels like the Wild West sometimes. The interface is meh – not the easiest to navigate. Liquidity? Ha, more like low tide. Tried to snag some niche coins – no luck! Their cryptocurrency choices are okay, but definitely seen better. Customer support? More like customer ignore. Slow and not really helpful. Trading fees? Wallet's feeling lighter than it should. As for privacy, I've got my doubts. Deposit and withdrawal speed? Slow as molasses, especially with wire transfers. All in all, left me feeling pretty frustrated. ?”

    Conclusion

    CITEX is a fresh crypto exchange with spot, margin, and derivatives trading. They have over 100 cryptos, a user-friendly setup, but slower support and less established compared to some exchanges. Before you start using CITEX or any other platform, make sure you know about these problems and do proper research.

    FAQs

    Q: What is CITEX?

    A: CITEX is a cryptocurrency exchange that was founded in 2018. It is headquartered in Singapore and registered in the British Virgin Islands. CITEX offers a variety of features, including spot trading, margin trading, and derivatives trading. The exchange supports over 100 cryptocurrencies.

    Q: What are the fees for trading on CITEX?

    A: The fees for trading on CITEX vary depending on the trading pair and the type of order. For example, the maker fee for BTC/USDT is 0.2% and the taker fee is 0.2%.

    Q: Is CITEX safe?

    A: CITEX has implemented a number of security measures to protect its users' funds. These measures include cold storage, multi-signature wallets, DDoS protection, and 2FA.

    Q: Is CITEX regulated?

    A: CITEX is not regulated by any government agency. However, the exchange is registered with the Financial Crimes Enforcement Network (FinCEN) in the United States.

    Q: What are the minimum deposit and withdrawal limits on CITEX?

    A: The minimum deposit and withdrawal limits on CITEX vary depending on the currency. For example, the minimum deposit for BTC is 0.001 BTC and the minimum withdrawal is 0.0001 BTC.

    Risk Warning

    Cryptocurrency exchange investments come with inherent security risks. It is important to be aware of these risks before engaging in such investments. Cryptocurrency exchanges are susceptible to hacking, fraud, and technical glitches, which can result in the loss of funds. It is recommended to choose reputable and regulated exchanges, stay updated on security measures, and be vigilant in detecting and reporting any suspicious activities. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.